The Enforcement Directorate (ED) has detained two ex-officials of the Reliance Anil Ambani Group in Mumbai under the Prevention of Money Laundering Act. Satish Seth and Gautam Doshi, former directors of Reliance Telecom Ltd, were taken into custody by the investigative agency. The duo was previously under scrutiny by the CBI for an alleged loan fraud amounting to Rs 114.98 crore at the State Bank of India.
In a separate development, Seth, who also held the position of Vice Chairman at Reliance Infrastructure, is scheduled to appear in a Delhi court for further legal proceedings. A spokesperson from the Reliance Group clarified that both Seth and Doshi, aged 70 and 73 respectively, are no longer associated with the Group. Seth had served as a Group Managing Director and on various company boards before leaving in 2025, while Doshi departed the Group in 2020 after serving as a Group Managing Director and board member.
The CBI had previously arrested Amitabh Jhunjhunwala, former Group Managing Director of Reliance Communications, in connection with an alleged loan fraud causing a loss of Rs 2,929.05 crore to the SBI. The National Company Law Tribunal (NCLT) has initiated personal insolvency resolution proceedings against Anil Ambani as a personal guarantor for loans to Reliance Communications and Reliance Infratel Ltd. Anil Ambani’s spokesperson expressed confidence in challenging the NCLT’s decision through legal means, emphasizing his belief in vindicating his position.
